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Disclosure bundle meaning

What does Disclosure bundle mean?
In transactional practice, a disclosure bundle is the collection of documents that evidence and support the specific disclosures made in the seller’s disclosure letter to qualify warranties in a share or asset purchase. It is a descriptive practice term (not defined by statute or case law) and its use is broadly consistent across England & Wales, Scotland, Northern Ireland and Ireland. The bundle contains the documents referred to in the disclosure letter (for example, contracts, corporate records, financial information, correspondence and due diligence materials). It should be clearly paginated and indexed so each disclosure in the letter can be precisely cross‑referenced, helping to evidence the scope and specificity of what is disclosed. Today the bundle is usually electronic (such as an export from a data room or a consolidated PDF “e‑bible”), though hard copy sets may still be prepared. The parties should check and agree the final index and contents at signing, how the bundle will be delivered (for example, USB or secure link), and ensure identical copies are retained by each party for future reference post‑completion, alongside the executed disclosure letter. The disclosure bundle is distinct from litigation disclosure or a court trial bundle.
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View the related Checklists about Disclosure bundle

CHECKLISTS
Family court bundles (non-financial remedy): FPR 2010 PD 27A checklist, responsibilities, page limits and e-bundle rules, including 2 March 2026 amendments — England and Wales

STOP PRESS Be aware that on 26 March 2026, the first Family Procedure Rules 2010 (FPR 2010) Practice Direction (PD) Update of 2026 was issued, introducing revisions to FPR 2010, PD 27A. This checklist is currently being revised to incorporate those alterations. See News Analysis: Family Procedure Rules 2010 Practice Direction Update No 1 of 2026. This Checklist explains the core requirements for assembling court bundles in all proceedings other than financial remedy proceedings, covering the documents to be included, format, lodging arrangements, and the permitted lengths of documents and bundles under the Family Procedure Rules 2010 (FPR 2010), namely FPR 2010, PD 27A. It gives practical guidance on who must prepare the bundle and the consequences of not complying with the requirements. It also identifies the amendments to FPR 2010, PD 27A taking effect from 2 March 2026. Different chapters of FPR 2010, PD 27A apply to different kinds of proceedings; see Practice Note: Preparation of court bundles in family proceedings—Chapters in FPR 2010, PD 27A. FPR 2010,...

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CHECKLISTS
CPR 29 multi-track case management: pre-CMC practitioner checklist on directions, disclosure, witness/expert evidence, ADR and trial estimates (England and Wales)

This Checklist This checklist reflects the requirements for claims progressing on the multi-track under CPR 29 and CPR PD 29, which govern multi-track case management. It should be read alongside Practice Notes: Multi-track—case management and Multi-track—case management conference (CMC), which provide general guidance on case management and on CMCs in the multi-track. This Checklist offers a high-level outline of key case management points to consider and deal with at an early stage of the proceedings and before any CMC takes place. It is not exhaustive and you will need to examine each point in greater depth where it is pertinent to the facts of the particular claim. The court’s case management of a claim will also vary according to the forum in which it is brought, and you must take into account the court-specific approach, including any guidance set out in that court’s guide. For further details, see: Court specific case management—overview and Practice Note: Court guides and other guidance...

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NEWS
Civil Litigation Update: England and Wales—Key Cases, CPR Pilot Guidance, Court Fees, Disclosure and Limitation (Week to 2 May 2024)

In this issue: Key DR developments Claims and remedies Pre-action and limitation Litigation Applications—general Evidence and disclosure New content Dates for your diary Useful information LexTalk®Dispute Resolution: a Lexis®Nexis community Daily and weekly news alerts Key DR developments Minutes KBD court user meeting minutes released: The record of the King’s Bench Division (KBD) court user meeting held on 25 April 2024 is now available. The agenda covered seal dates on court papers, time slots for applications, supplying hearing bundles, delays with Foreign Process, and directing writs of possession to the local District Registry rather than the High Court at the Royal Courts of Justice, plus other items including CE-File rejections—see: LNB News 01/05/2024 85—Minutes from King’s Bench Division court user meeting on 25 April 2024. Guidance Damages Claims Pilot guidance refreshed: HM Courts and Tribunals Service (HMCTS) has revised the Damages Claims Portal (DCP) guidance for cases under CPR PD...

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NEWS
UK Public Law highlights: Windsor Framework review, protest regulations quashed, Data (Use and Access) Act, Palestine Action proscribed, JR and ECHR cases, AI misuse guidance, equality and devolution updates

In this issue: Brexit headlines Brexit SIs Post-Brexit guidance Constitutional and administrative law Judicial review Equality and human rights Information law Public procurement Subsidy control and State aid State security and intelligence Other Public Law news Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Brexit headlines Commons Library assesses Murphy’s review on democratic oversight of the Windsor Framework The Commons Library has issued a briefing on the independent review of the Windsor Framework, commissioned by Secretary of State for Northern Ireland, Hilary Benn MP, and chaired by Lord Murphy of Torfaen, with the report expected by 10 July 2025. Set up in February 2023 to revise the Protocol on Ireland/Northern Ireland and prevent a hard border, the Framework is being scrutinised to identify how it can operate with support from all communities in Northern Ireland. The commission follows a...

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NEWS
Family Procedure Rules PD Update No 6 of 2025: new PD27A (court e-bundles); compulsory digital service use; PD12J domestic abuse changes; Pathfinder expansion; appeals permission clarified (England and Wales)

FPR 2010, PD Update No 6 of 2025 New FPR 2010, PD 27A—court bundles The PD Update introduces a replacement Practice Direction for FPR 2010, PD 27A (Family proceedings: Court bundles (universal practice to be applied in the High Court and Family Court)). Among other points, the refreshed PD 27A: adopts e-bundles as the default approach requires, where feasible, the use of Arial or Times New Roman sets distinct rules for the layout and contents of bundles in financial remedy cases and in other proceedings (including private children matters and public children matters) accelerates the timetable for preparing and lodging the bundle; for example, apart from the preliminary documents, the bundle must be filed five working days before the hearing rather than two Linked amendments are also made to existing PDs to refresh cross-references to FPR 2010, PD 27A, namely: FPR 2010, PD 5D (Communication and filing of documents by email); FPR 2010, PD 12B (Child Arrangements Programme); FPR 2010,...

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PRACTICE NOTES
Property disclosure on share and asset deals: disclosure letters, general and specific disclosures, and the disclosure bundle - buyer and seller guidance (England and Wales)

Practice Note This Practice Note sets out the property aspects of the disclosure exercise undertaken by a seller on a sale of shares in a company (the ‘target’) or on a disposal of business assets. It outlines the disclosure letter and disclosure bundle, and highlights practical considerations for the property solicitor when acting for either buyer or seller. The seller’s property disclosure is intended to qualify the property warranties in the share or asset purchase agreement, thereby protecting the seller from liability for breach of warranty. Where a matter has been properly disclosed, the buyer cannot bring a claim. From the buyer’s standpoint, the disclosure process draws out information about properties owned, used or occupied by the target or business. The buyer must then evaluate the impact of the disclosures and may pursue a price adjustment, seek further protection through property indemnities, or choose to withdraw from the acquisition altogether...

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PRACTICE NOTES
European patent applications at the EPO: EPC filing, patentability and formal requirements, prosecution to grant, validation, Unitary Patent/UPC, PCT routes, and post-grant opposition/limitation, fees

This Practice Note outlines the requirements and procedural steps for European patent applications at the European Patent Office (EPO), covering EPO post‑grant opposition and limitation procedures. It further explains that, once a European patent is granted, the proprietor may lodge a ‘request for unitary effect’ with the EPO to obtain a unitary patent. European patents There are two types of European patents: European bundle patents—often called ‘classic’ or ‘traditional’ European patents, or simply European patents or EPs for short, and European patents with unitary effect—commonly known as unitary patents European bundle patents The European Patent Convention (EPC) created a single route for securing patents in multiple countries from one patent application. The EPC is applied by the EPO, which serves as the executive arm of the European Patent Organisation, an international organisation with 39 member states, including all 27 EU Member States plus certain non‑EU members such as the UK, Norway, Switzerland and Turkey. European bundle patents can confer protection...

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PRACTICE NOTES
FDR preparation in financial remedy cases: practical checklist on offers, costs (Form H), disclosure, expert evidence, bundles (PD27A), negotiation (PD28A), aligned with the Financial Remedies Guide 2026 (England and Wales)

STOP PRESS The Financial Remedies Guide 2026, issued on 13 March 2026 by Mr Justice Peel (National Lead Judge of the Financial Remedies Court) and His Honour Judge Hess (Deputy National Lead Judge of the Financial Remedies Court), with the endorsement of the President of the Family Division, now supersedes and takes precedence over the following: Statement on the efficient conduct of financial remedy cases allocated to a High Court judge whether sitting at the Royal Courts of Justice or elsewhere (1 February 2016) (the High Court judge level efficiency statement) Statement on the efficient conduct of financial remedy hearings proceeding in the Financial Remedies Court below High Court judge level (11 January 2022) (the below High Court judge level efficiency statement) Financial Remedies Court Primary Principles document (11 January 2022) Notice from the Financial Remedies Court: electronic bundles (19 April 2022) Allocation of financial remedies cases to High Court judge level (21 May 2024) This document is in...

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PRECEDENTS
Precedent: short-form business angel subscription and shareholders’ agreement for private companies (England and Wales)

This Agreement is dated [ insert date ] Parties [ Insert name of investee company ], a company incorporated in England and Wales with number [ insert company number ], whose registered office is at [ insert address ], with brief particulars set out in Schedule 1 (the Company) The several persons whose names and addresses appear in Part A of Schedule 2 (together, the Founders) [ The several persons whose names and addresses appear in Part B of Schedule 2 (together, the Other Shareholders) and ] [ Insert name of investor ] [ incorporated in England and Wales under number [ insert company number ] whose registered office is at OR of ] [ insert address ] (the Investor) [ (each of the Company, the Founders, the Other Shareholders and the Investor is a Party and, together, the Company, the Founders, the Other Shareholder and the Investor are the Parties). ] BACKGROUND The Investor has agreed to...

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PRECEDENTS
Precedent disclosure letter (private M&A asset purchase) qualifying warranties; includes general and specific disclosures, schedules and disclosure bundle index

Disclosure letter—private M&A—asset purchase [ TO BE PRINTED ON THE seller's headed notepaper ] For the attention of [ insert buyer contact name ] [ insert buyer name ] [ insert buyer address ] [ insert day and month ] 20[ insert year ] Dear [ insert buyer contact name ], Sale of the business of [ insert description of the target business ] carried on by [ insert seller(s) name ] (the Business) We write regarding the sale and purchase of the Business under an agreement (the Agreement) to be executed today, between [ insert seller(s) name ] (the Seller[s]) and [ insert buyer name ] (the Buyer). Unless the context indicates otherwise, terms and expressions defined in the Agreement shall have the same meanings in this letter...

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PRECEDENTS
Precedent managers’ disclosure letter for buyout investment agreement, qualifying warranties with general and specific disclosures and disclosure bundle index

[ headed notepaper of the managers ] For the attention of [ insert name of contact at the Investor ][ insert name of Investor ][ insert address ][ insert day and month ] 20[ insert year ] Dear [ insert name of Investor contact ], Investment Agreement relating to [ insert company name ] [Limited] (Company) We write in connection with the Investment Agreement (the Agreement) intended to be executed today between the Company, [ ourselves OR [ insert name of the Manager [ s ] ] ] ( Manager [ s ] ) and [ you OR [ insert name of Investor ] ] (the Investor). Terms and expressions defined in the Agreement shall bear the same meanings in this letter unless the context dictates otherwise. This letter, together with all information set out in schedule 1 ( Schedule 1 ), and the information within the documents treated as annexed to it or actually annexed to it as listed in schedule 2 ( Schedule 2...

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